Feeds

Espotting, FindWhat.com sign new merger pact

Revalues merged firm at $170m

  • alert
  • submit to reddit

The Power of One Infographic

Paid-for search outfit Espotting has signed an amended merger agreement with FindWhat.com. The new deal values Espotting at $170 million, up $7 million from the original deal.

Under the terms of the new agreement Espotting stockholders will receive seven million shares of FindWhat.com common stock and approximately $20 million in cash. The exact amount of cash may vary, based upon Espotting’s net assets on the closing date.

In addition, the deal now includes the issue of options and warrants to buy an estimated 800,000 shares of FindWhat.com common stock.

Once the merger is completed, the combined company would have approximately 33.5 million shares outstanding on a fully diluted basis. Of these, FindWhat.com's stockholders, employees, and affiliates will own approximately 25.7 million shares, and Espotting's stockholders, employees, and affiliates will own approximately 7.8 million shares.

The company would not disclose the reasons for the renegotiation of the deal. ®

Related Stories

FindWhat.Com finds $8m for Miva
FindWhat.com buys Espotting for $163m
Ask Jeeves: Why did you junk Espotting for Google?

Mobile application security vulnerability report

More from The Register

next story
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Mobile application security vulnerability report
The alarming realities regarding the sheer number of applications vulnerable to attack, and the most common and easily addressable vulnerability errors.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.